CryptosHeadlines.com - The Leading Crypto Research Network

In the most recent update, the final class action lawsuit lodged in the United States against Terra (LUNA) and Terraform Labs has been voluntarily dismissed.
In a noteworthy development, the recent class action lawsuit brought against Terra (LUNA) in the United States has been voluntarily retracted by the plaintiffs. This marks the second case to be withdrawn, signifying a favorable trend for the company.
Terraform Labs CEO Chris Amani conveyed his sense of relief and resolve in his statement regarding the matter. He stated, “The most recent class action lawsuit filed against Terra in the U.S. has been dismissed by the plaintiffs, making it a total of two. As long as these groundless legal allegations persist, we will remain committed to our defense.”
Regarding the specifics of the case, it was initially filed by Nick Patterson individually, and subsequently, on behalf of a group sharing similarities with Terraform Labs, including Jump Crypto, Jump Trading, Tribe Capital, Definance Capital/Definance Technologies, Three Arrows Capital, Nicholas Platias, and Do Kwon. In response, a countersuit was initiated.
Nonetheless, lead plaintiff Michael Tobias and plaintiff Nick Patterson have willingly and entirely withdrawn the lawsuit against defendants Terraform Labs and Do Kwon, as indicated in a notice submitted to the court and all relevant parties.
The notice also made it clear that neither the plaintiffs nor their legal representatives have received or will receive any form of compensation for this withdrawal.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#CryptoMarket #Bitcoin #CryptoNews #LUNA #LUNC

At least 88,200 people have $1 million or more in cryptocurrencies, a new wealth report said.That's out of 425 million total crypto users around the world, according to Henley & Partners.A fortunate few — 182 users — have cryptocurrencies worth more than $100 million, the report said.
A new wealth report by London-based Henley & Partners states that there are at least 88,200 individuals globally, labeled as crypto-millionaires, which represent around 0.02% of the estimated 425 million people worldwide who own or trade cryptocurrencies.
Crypto-millionaires are characterized as individuals who hold $1 million or more in cryptocurrency assets, as highlighted in the firm’s Crypto Wealth Report 2023. Approximately half of such individuals—around 40,500—possess #Bitcoin , as mentioned in the report.
In summary, there are at least 182 cryptocurrency users who have cryptocurrency holdings valued at $100 million or more, and 22 individuals who each have a cryptocurrency portfolio worth at least $1 billion, as per the details provided by Henley & Partners. The firm collaborated with South African wealth intelligence company New World Wealth for data collection.
Many amateur investors also grew their money in #cryptocurrencies because access to digital assets has improved through new apps and exchanges, Volek added. The crypto exchange #Binance , for example, said in August that it has over 150 million users, despite facing regulatory restrictions around the world.
"Five years ago, if I wanted to invest in cryptocurrency, it was too scary. You need wallets and vaults and different exchanges, and which one do I use?" Volek said. "Nowadays, things have gotten a lot more controlled, and it's a lot safer to invest."
Still, Volek said his firm — which offers migration services to the wealthy — has seen some crypto-millionaire clients lose much of their wealth amid a volatile digital market.
He recalled several young men who attained $20 million or so from trading crypto, but could no longer continue with Henley & Partners' programs after the March 2022 Bitcoin crash.
A substantial number of novice investors have also seen an increase in their wealth through cryptocurrencies, due to enhanced accessibility to digital assets provided by new apps and exchanges, added Volek. For instance, Binance, a cryptocurrency exchange, reported having over 150 million users in August, notwithstanding the regulatory constraints it encounters globally.
Volek reflected, "Five years ago, investing in cryptocurrency was too intimidating, requiring wallets, vaults, and navigating through various exchanges." He added, "Currently, the processes are more regulated, making investments safer."
However, Volek also highlighted that his firm, which specializes in migration services for the affluent, has witnessed some clients, who are crypto-millionaires, experience significant losses in the turbulent digital currency market.
"It would impact them to such an extent that they would either pause or retract their applications, as suddenly they either lacked the necessary liquidity or were not comfortable committing to one of these programs," he explained.
#crypto2023 #SpaceCatch
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

CryptosHeadlines.com - The Leading Crypto Research Network

The price has recently surpassed the critical resistance zone at approximately $1656. If the bulls can sustain this momentum, there’s a possibility that the price could test the $1710 level.
VanEck intends to allocate ten percent of its Ethereum Strategy exchange-traded fund annually for a minimum of ten years to The Protocol Guild, comprising 152 individuals dedicated to developing the fundamental protocol for Ethereum. VanEck also commended the Ethereum developers for their steadfastness in building and upholding this collaborative infrastructure for nearly a decade.
Additionally, on September 29th, Invesco and Galaxy Digital reportedly filed documentation with the United States Securities and Exchange Commission (SEC) for a spot Ethereum ETF. The disclosure was shared on Twitter by James Seyffart, an ETF analyst at Bloomberg. Invesco and Galaxy represent the most recent asset management firms to pursue regulatory approval for a spot ETH ETF, having initiated the process on September 29.
Bulls Maintain Control
There is a potential for Ethereum’s price to experience a bullish breakout above $1,700, as bulls are putting in significant effort. This suggests that buyers have successfully counteracted the bearish pressure, indicating a potential continuation of ETH’s upward trajectory.

Source: CoinMarketCap
As of the current moment, ETH is being traded at $1676, showing a 0.35% increase in the past 24 hours according to data from CMC. However, the trading volume has seen a decline of 45.83%. Notably, the price has recently surpassed the resistance zone at approximately $1656. If the bulls can sustain this momentum, there’s a possibility that the price may test the $1710 level. A continued price increase could potentially trigger a robust rally towards the $2000 resistance level.
Conversely, should the price dip below the $1540 support level, it is likely to face a test at the $1427 level. A continued decline could potentially drive prices down to the critical support level at $1100.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#CryptoMarket #Bitcoin #CryptoNews #Ethereum #ETH